Opinion on  Exxon Mobil Corp (XOM)     Sector: Energy  >  Industry: Oil & Gas - Integrated
xom

I see xom at least going to around 66 and 55 would make double bottom. Plus they have been talking about buying huge amounts of there own stock back. I think that is the only thing that has been holding them up this long. There have also been reports showing that these companys that have been buying thier own stock back have seen huge share price declines. These are only my opinions.

They are also a group that like to issue themselves huge amounts of stock options. Corporate greediness comes at only one groups expense and that is the shareholders. If shareholders get greedy and don't sell and take profits when a stock does well and prices are high they will then end up becoming bagholders. So the only people who make out all around is the Corporate idiots.

all though you could see a bounce in the price, I also forgot to mention in previous post that xom was generating the numbers they were based on gas and diesle  that was $4 per gallon and oil that was between $60 and $150 per brl. gas and oil have come down not to long ago and you saw what it did to thier latest qrtr eps. So you tell me what you think $1.75 gas and diesle and $20 to $40 per brl. oil will look like on thier next qrtr eps. This is also a stock that they use to help manipulate the dow and s&p. I have a target on the dow of between 3500 and 6000 and around 500 on the S&P. These are only my opinions.

I still see more downside be very careful on the oil inventories report. The price was up big ahead of the news. they are trying to sop up as much of the oil inventories as they can. Buy the rumor sell the news.

Here's another thought to keep in mind. XOM said they were going to buy I don't remember how many shares back you can easily find the amount. If they bought a large portion of shares in the mid 80's to mid 70's and the stock price continues its decline which i think it will they will start having huge paper losses building up. This could be a snowballing effect and I am not the only one who looks at these things. GRMN was buying shares in the 50's and higher they fell a long way from those levels. CHK ceo bought 500K at the top of the market look what happened to that stock. I am sure you can find more examples of this in other stocks. These are just my thoughts.

im taking profit on todays pullback it could test 64.77 area an abc correction with a 1.618 retrace. i am going to wait and see if we retest the 70 dollar gap down area. that is a possability